Monthly Existing Home Sales Down in Florida but Up from Last Year

November 22, 2011 (Shirley Allen)

Monthly sales of existing homes and condominiums in Florida declined in October but were still well above year ago levels according to the latest data from the Florida Realtors®.

An estimated total of 13,755 existing homes and condos were sold in the Sunshine State in October. That was 8.5 percent lower than the 15,036 homes sold in September but 13.3 percent higher than the 12,145 homes sold in October 2010.

The median sales price for a home in Florida declined 2.0 percent to $131,200 in October from $133,900 in September and was 4.0 percent lower than the median price of $136,600 in October of 2010.

“Statewide, both sales and prices are above where they were this time last year,” noted Florida Realtors Chief Economist Dr. John Tuccillo. “The monthly median prices have ticked down slightly for the past few months, but the overall trend continues to show gains year-over-year.

Condominium sales accounted for 6,132 of the total sales in October, down 8.0 percent from 6,666 sales in September but 12.0 percent higher than the 5,473 units sold in October of 2010.

The median sales price for a condo in October was $87,800, which was 0.1 percent higher than the $87,200 median sales price in September and 9.1 percent higher than the $80,500 median sales price for a condo in October of last year.

Through the first ten months of this year there have been 157,638 existing homes and condos sold in Florida, 8.5 percent higher than the 145,252 homes sold during the same period last year.

All but two of Florida’s 19 Metropolitan Statistical Areas (MSAs) have posted gains over last year with the largest gain posted in Miami (+41 percent) and the largest decline posted in Tallahassee (-10 percent).

Tags: existing homes, condos, sales, median home prices, florida

Source:
Florida Realtors®